Various forms of binding devices for bundles or packages have been known in the prior art, such as those described in U.S. Pat. Nos. 1,030,661, 1,156,565, 3,081,781 and 3,119,160. In none of these prior art devices, however, is there a suggestion of combining a closed-loop elastic band with a removable pin as provided by this invention.
The combination of the invention permits a bundle to be circumferentially contained by easy manipulation of a stretchable band and an associated pin. The assembly may be detached from the bundle with equal facility, without concern for knots, clasps, hooks or the like, merely by withdrawing the pin from an end loop portion of the elastic band. The binding device of the invention is inexpensive to manufacture and requires an irreducible minimum of parts. It can be used for a wide variety of applications one of which is as means to be carried in a workman's pocket for binding together a folded electrical power tool cord.